Mustafa Goklu, popularly known as “Mustangy,” was found guilty earlier today by a federal jury in Brooklyn of money laundering and running an unregistered money transmission business as part of a plot to launder the alleged Bitcoin proceeds of heroin trafficking.After a four-day trial before United States District Judge Pamela K.Chen, the verdict was reached.Goklu could spend up to 25 years in jail after being found guilty.According to United States Attorney Peace, “the defendant offered his customers the option to launder their criminal proceeds, remain anonymous, and hide where their Bitcoin was coming from so they could continue to engage in drug trafficking and other crimes without coming under the notice of law enforcement.” The Eastern District of New York’s US Attorney, Breon Peace, made the announcement of the decision.Goklu’s illegal business of changing money from one form to another without the necessary licence has been put an end to by today’s verdict, and the defendant has been found guilty of his crimes.As established at trial, DEA special agents discovered a localbitcoins.com advertisement in July 2018 where a person going by the nickname “Mustangy” offered to buy up to $99,999 worth of bitcoins (“BTC”), a virtual currency also known as cryptocurrencies, and convert them into dollars for a charge.
Later, Goklu was identified by law enforcement as the person who used the username Mustangy.On July 11, 2018, a DEA Special Agent working undercover (the “UC”) started communicating with Goklu via encrypted texts to set up in-person BTC to USD exchanges.Following their meeting, the defendant and the UC conducted seven actual or attempted trades of bitcoin for cash over a nine-month period, which culminated in Goklu’s arrest in April 2019.The UC repeatedly told the defendant that oxycodone, Adderall, and marijuana sales were part of his business and that the source of the BTC the defendant was exchanging was drug trafficking.The transactions were place in the defendant’s parked Mercedes-Benz, a Sunnyside, Queens, coffee shop, and several places in Manhattan.For a total of $133,000, traded amounts for each transaction ranged from roughly $5,000 to $50,000.Every time a transaction took place, the UC sent BTC to Goklu’s cryptocurrency wallet.
The defendant then kept a seven to eight percent commission charge and sent the UC the remaining funds.Additionally, the defendant was involved with numerous other people in similar illegal Bitcoin exchanges, according to the evidence presented at trial.
Mr.Peace praised the New York Division of the U.S.Drug Enforcement Administration for their excellent case-related research.Mr.
Peace was chosen in July 2022 to lead the Attorney General’s Advisory Committee’s White Collar Fraud subgroup (AGAC).Mr.Peace will be instrumental in helping the subcommittee’s recommendations to the AGAC in order to facilitate the investigation, prevention, and prosecution of a variety of financially motivated, non-violent crimes, including mail and wire fraud, bank fraud, health care fraud, tax fraud, securities and commodities fraud, and identity theft.The International Narcotics and Money Laundering Section of the Office is in charge of the case for the government.
With the aid of paralegal expert Bridget Donovan, Assistant United States Attorneys Gillian Kassner and Marietou E.Diouf are in charge of the prosecution.News Summary: – – Check all news and articles from the latest Business news updates..
